The Reserve Bank of India (RBI) has reaffirmed its position on exchange-traded rupee derivatives, clarifying that it has not altered its stance on requiring proof of underlying forex exposure from brokerages. Despite recent concerns raised by brokers, the central bank has not mandated the submission of such proof for clients engaging in forex derivative trades. The rule, set to take effect on April 5, was initially announced in January but has led to confusion among brokers regarding its implementation. While some brokerages have requested proof of exposure from clients, this is not a directive from the RBI. The central bank’s stance remains consistent, emphasizing the existing requirement for underlying exposure.
‘No change in RBI’s stance on underlying exposure to forex derivatives’
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